##ETH_ETFs_Approval_Predictions
The world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao have been accused of misusing investor funds, operating as an unregistered exchange, and violating a slew of US securities laws in a lawsuit filed by US regulators.
Filed in a federal court in Washington DC, the US Securities and Exchange Commission (SEC) lawsuit on Monday lists 13 charges against the firm - including commingling and divert customer assets to an entity Zhao owned called Sigma Chain.
The news caused Bitcoin, the largest crypto in terms of value in circulation - worth over $500 billion (€468 billion) - to plummet, losing almost 2 per cent in a matter of minutes.
